S&P Lowers GDP Growth Estimate

Highlights: 2Q  lowered from 4% to 1.7%. 2011 lowered from 3.1% to 2.4% Additional 2Q forecasts:          July      March Unemployment                        9.1%      8.9% Consumer spending                  .60         2.9 Equip. Investment                    4.7        17.2 Resid. Construction                  3.8         12 Fed Government               … continue reading →

So Far… So Far

It puzzles me how, when the market does exactly what it’s expected to do, some folks take it as a sign that everything’s somehow changed. Late Tuesday night [Ten Lousy Points] I blogged for the 1,000th time about the similarities between this market and that of 2007.  I pointed specifically to December 21, 2007 as … continue reading →

Anatomy of a Short

ORIGINAL POST:  10:50 AM PDT Just a little experiment here, to demonstrate how technical trading works.  Bank of America, hailed as a screaming buy after losing only $8.8 billion in the latest quarter, is currently trading at about 10.24. It seems pretty well stuck in a descending channel that’s had BAC circling the drain since … continue reading →